Last Orders: ASX small caps raced ahead of large caps

ASX Small Caps gained more than 1 per cent today while the ASX 200 finished up in negative territory.

The ASX Emerging Companies Index rose 1.21 per cent to 2,109 points. Meanwhile, the ASX Small Ords rose 0.89 per cent to 3,175 and the ASX 200 lost 0.19 per cent falling to 6,781.

The only large cap sector to finish in positive territory was resources while the biggest decliners were health and information technology.

Emerging as the biggest winner was gold stock EMU (ASX:EMU) off the back of exploration results.

ANNOUNCEMENTS

Airline Regional Express (ASX:REX) announced an overhaul of its turboprop route network axing 5 routes but adding two and saying a further four were under consideration.

It also clarified its plans to start domestic jet services between Sydney and Melbourne next Monday were on track barring further border closures – but it will now only start with 3 return services daily.

Video technology company Atomos (ASX:AMS) revealed that the family trust of co-founder Jeromy Young sold 10 million shares it owned in the company. The company said it would help the family fulfil tax obligations and buy another house.

Trojan Capital Fund has issued a notice to Vortiv (ASX:VOR) requesting it hold a meeting to consider a resolution to replace directors Howard Digby and Jeffrey Lai.

Education stock Redhill (ASX:RDH) received a takeover offer from its peer iCollege (ASX:ICT). Redhill has advised shareholders to take no action as to the offer which values Redhill at $50.3 million.

RareX (ASX:REE) has secured a strategic $2.75 million investment from prominent resources investor Mr Simon Lee AO via a share placement comprising 25 million new fully-paid ordinary shares at A$0.11 per share.

This increases RareX’s cash and liquid investments position to over $11.25 million. The additional funding will be used to progress its growth strategy in the global rare earths sector.

RareX Managing Director, Jeremy Robinson said,“ Securing a strategic investment from someone of Mr Lee’s reputation and calibre in the international mining industry is a glowing endorsement of RareX and our growth ambitions in the booming rare earths sector.”